Cooking gas, fuel prices skyrocket in India

A worker carries LPG gas cylinders | Photo: PTI

Kochi: Even when the price of crude oil is one third of the record high seen in 2008, the price of fuel and cooking gas are skyrocketing in the country. The price of cooking gas for domestic use (LPG) increased by Rs 50. In Kochi, the price touched Rs 701 for a 14.5 kg cylinder. Within a span of two weeks, the price increased by Rs 100.

Though every month, the price increase on the first day, in December it was on the second. It increased from Rs 601 to Rs 651. On Dec 15, it again increased by Rs 50 and reached Rs 701. Also, adding to the woes, there has been no subsidy for the past five months.

Along with the cooking gas price hike, the fuel price also has been on the upward trend since Bihar Assembly elections. Within the past two weeks, the price of petrol increased by Rs 1.37 and diesel by Rs 1.53. The reason for the price hike is being claimed as price increase of crude oil, but for the past two weeks, the price of crude oil increased by just 3 dollars. The price of a barrel of Brent crude oil is nearly 50 dollars.

In 2008, when the crude oil price was around 50 dollars, the fuel price in India was less than what it is now.

The price of fuel in Kochi as on December 1: Petrol - Rs 82.48 and diesel Rs - 76.37. The same on December 15 was Petrol - Rs 83.85 and diesel Rs – 77.90.

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